Electric two-wheeler startup Yulu to raise $100 million by both new and existing investors to expand its business model and grab a larger pie of the growing last-mile mobility segment.
Yulu is a technology-driven mobility platform that enables seamless urban mobility across public and private modes of transportation. Instead of targeting entire cities, Yulu is focusing on high-demand areas through a cluster-based approach based on pin codes. It has created 3,000 Yulu zones - vehicle swapping bays - which will be expanded to 10,000 to 12,000 zones over the next year. It offers urban Mobility-as-a-Service (uMaaS) in Bengaluru, Mumbai, and Delhi-NCR, with plans to expand to 10 other major metros and tier 1 cities.